Students acquire a basic understanding of bookkeeping and accounting for the operation of a small business. Students will learn bookkeeping procedures such as the double-entry system, and will become familiar with financial statements, accounting terms and concepts for businesses small and large. Students will learn how to record business transactions from start to finish as part of the accounting cycle.
Prerequisites
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What you will learn
- Definitions: bookkeeping, accounting, ledger account
Categories of accounts: assets, liabilities, revenues, expense and owner’s equity
Debit and credit as used in bookkeeping
Recording transactions
General journal and general ledger
Trial balance: preparing trial balance, locating errors
Basic steps in accounting cycle
Net income, revenue, expense and the time period principle
Matching and realization principles in recording revenue
Prepare an income statement and statement of owners’ equity
Adjusting entries: four basic types of adjusting entries
How to register
This course is offered as part of a VCC program only.
Course schedules
Select your program to see the available course schedules.
Contact us
If you have any question, please email at advising@vcc.ca.
† This information is intended as a guideline only. Program and course details are subject to change with the approval of VCC's Board of Governors.